Bought with Joe Zalabak of KELLER WILLIAMS-TREC
$650,000
$1,100,000
40.9%For more information regarding the value of a property, please contact us for a free consultation.
0.27 Acres Lot
SOLD DATE : 08/25/2022
Key Details
Sold Price $650,000
Property Type Commercial
Sub Type Multi Family 5+
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 11417831
Sold Date 08/25/22
Year Built 1976
Annual Tax Amount $78,947
Tax Year 2021
Lot Size 0.270 Acres
Lot Dimensions 109.67X120
Property Sub-Type Multi Family 5+
Property Description
505 W Springfield Ave, Urbana, is a 3 story plus garden level 16 unit apartment building located in the heart of Urbana, minutes from the University of Illinois campus. This building consists of 15 two-bedroom, one-bath units and 1 one bedroom studio unit. This all-brick building is metered separately for electric and cold water. Landlord pays for both domestic and heating hot water. The opportunity for increased rental income exists by bringing rents up to current market rates. Rarely do buildings of this size in this location become available for sale. Hurry!
Location
State IL
County Champaign
Interior
Cooling Central Air
Fireplace N
Exterior
View Y/N true
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